Since November 5, 2024, the price of dogecoin (DOGE) has registered an increase of close to 186%, and at the time of this article its market value is around $0.40, a figure that is not known. seen since May 2021, according to data from CoinMarketCap.
This recent increase in the price of DOGE, a memecoin inspired by a little dog, it caused the ASICs (application specific integrated circuits) manufactured for the mining of this cryptocurrency became the most profitable on the market currently.
The ASIC of the moment is the Bitmain Antminer L9 17.6Gh
According to site data Whattominethe team hardware for the most profitable DOGE mining generates 57 net dollars daily. This is the Bitmain Antminer L9 17.6Gh, launched in May 2024. Currently, it is not only the ASIC most profitable to mine DOGE, but it is the most profitable in the entire cryptocurrency market.
It is worth clarifying that these figures were determined with an electricity price of $0.10, the default value of the Whattomine site.
This mining equipment has a computing power of 17.60 GH/s (gigashes per second) and an electrical consumption of 3,260 watts. Users interested in purchasing this ASIC they will have to disburse $13,500.
Due to its computing and consumption characteristics, it can be determined that this mining equipment has an energy efficiency of 185.23 J/GH (joules by gigashes).
In addition, this same ASIC, but in a version with a lower hashrate 16 GH/s (gigashes per second) and an energy consumption of 3360 watts, it is the third most profitable option at the moment. Users who are mining with this hardware they will get income on average 52 net dollars per dayaccording to Whattomine.
This is the second most profitable ASIC on the market today
The VolcMiner D1, like the Bitmain Antminer L9, is a mining rig specifically designed for the mining of Dogecoin and other cryptocurrencies based on the algorithm. Scrypt.
This algorithm hash Cryptography is a consensus method based on Proof of Work (Proof of WorkPoW) designed to secure networks and verify transactions. It is used in the mining of Dogecoin and Litecoin (LTC), among other cryptocurrencies, and is designed to be more efficient in terms of energy.
Launched in November 2024, VolcMiner D1 offers a mining power of 17.00 Gh/s (gigashes per second) and an energy consumption of 3900 watts.
With a price of $13,000 In its most powerful version (17.00 Gh/s), this ASIC produces net profits of approximately 54 dollars dailypositioning itself as the second most profitable mining team on the market and on DOGE.
On the other hand, in the list of ASICs The most profitable fourth and fifth places are occupied by two versions of the same device: ElphaPex DG1+ and ElphaPex DG1. These generate net earnings of around $43 and $32 respectively.
These equipment described here have the possibility of accessing the merged mining of Dogecoin and Litecoin (LTC). However, according to the data of Whattomine, LTC mining is currently unprofitable.
Additionally, another quality of the ASICs pointed out in this article is that they can be used in the pool Nicehash mining site. According to Whattominewith Nicehash the profitability of mining equipment would improve by an average of 2 to 3 dollars a day net.
In summary, thanks to the current rebound in the market value of token DOGE, its mining registers a notable increase in its profits. So much so that, at the time of writing, Dogecoin has the ASICs more profitable, getting up to 56 dollars a day, when in September these same ASICs They barely exceeded, in the best of cases, 13 dollars a day net.
How is the profitability of mining equipment calculated?
Although the rise or fall of the price of a cryptocurrency is a key catalyst in determining the profitability of its mining, there are other factors to consider the possible benefits of a cryptocurrency. ASIC.
For example, the processing capacity of mining equipment (hashrate) and its energy consumption.
On the other hand, It is essential to evaluate the energy costwhich depends on the electrical consumption of the equipment, the local electricity rate and the operating time, generally 24 hours a day. This expense is calculated by multiplying daily energy consumption in kilowatt-hours (kWh) by the cost of electricity. Net profitability is obtained by subtracting energy and maintenance costs from total daily income.
Lastly, it would also be prudent evaluate the purchase price of the ASIC to clarify the size of the initial investment and the time of return on investment.
